The Foreign Extortion Prevention Act was introduced in the House of Representatives on August 2, 2019. Similar to the Foreign Corrupt Practices Act (FCPA) the proposed bill will criminalize extortion by foreign officials and would allow the DOJ to indict those officials who demand or accept bribes in exchange for fulfilling, neglecting, or violating their official duties.
On Thursday the Justice Department, the SEC and the Fed jointly agreed to allow JPMorgan Chase to settle a case involving allegedly massive bribery of Chinese officials. The settlement will require the bank to pay penalties totaling $264 million but not to admit any wrongdoing. While critics including President-elect Trump called for executives to be charged criminally, the bank was able to achieve a nonprosecution agreement, which is unusual.